MAHANADI COALFIELDS LTD.,SAMBALPUR vs. DCIT, CIRCLE-2(1), SAMBALPUR
In the result, appeal of the assessee is partly allowed for
ITA 174/CTK/2018[2015-16]Status: DisposedITAT Cuttack05 Jun 2020AY 2015-16
Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.174/Ctk/2018 (नििाारण वषा / Assessment Year : 2015 - 2016) Mahanadi Coalfields Ltd., Vs. Dcit, Circle-2(1), Sambalpur Jagriti Vihar, Burla, Sambalpur स्थायी ऱेखा सं./Pan No. : Aabcm 5188 P (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri S.S.Podar, Ca राजस्व की ओर से /Revenue By : Shri S.M.Keshkamat, Citdr सुनवाई की तारीख / Date Of Hearing : 15/01/2020 घोषणा की तारीख/Date Of Pronouncement : 05/06/2020 आदेश / O R D E R Per L.P.Sahu, Am :
For Appellant: Shri S.S.Podar, CAFor Respondent: Shri S.M.Keshkamat, CITDR
Section 143(3)Section 14ASection 32Section 35ESection 37Section 37(1)
Charitable
Trust Fund IR 252 indeed a bonafide assessee should not be precluded from switching over to another system of accounting which he find convenient and which would reflect real Income.
g) Method must be applied consistently:
No particular basis of valuation is suitable for all types of business, but whatever the basis adopted, it should be applied consistently
